Wingate by Wyndham Houston Willowbrook


Location: Houston, TX
Price: Call for Offers
Rooms: 83
Lot Size: 1.46 acres
Year Built: 2000

Current
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  • Location. The Wingate by Wyndham Willowbrook conveniently sits right off FM 1960 and Mills Road about one mile away from both Willowbrook Mall and Willowbrook Medical Center. Willowbrook lies about thirty minutes northwest of Downtown Houston along Highway 249 just outside Beltway 8. For guests flying into Houston, the George Bush Intercontinental Airport is a short twenty minute drive away. Five minutes away from the hotel is Cutten Road, a major industrial corridor that is home to over thirty oil and gas companies including Fortune 500 companies National Oilwell Varco and GE Oil & Gas.
  • Northwest Freeway. Historically, the Northwest Houston submarket has been one of the top markets in Houston for RevPAR growth, driven primarily by corporate demand in the energy industry. Based on the most recent Hotel Horizons® Report from CBRE Hotels’ Americas Research, all the hotels in this submarket had the following statistics in 2014: 70.5% occupancy, $93.79 ADR and $66.11 RevPAR. In 2016, this same tract finished with the following statistics: 57.4% occupancy, $88.29 ADR and $50.66 RevPAR, which represents a 23.4% decline in RevPAR compared to 2014. The decline is due to the tightened travel budgets from the local energy companies as oil prices remained unstable. With oil prices showing signs of stabilization in Q2 2017, oil/gas executives are confident that the future is bright.
  • Below Replacement Cost. Based on pricing guidance, the Hotel can be acquired for below replacement cost. This presents an excellent opportunity to purchase an award winning branded hotel for less than the cost of construction. After completing the change of ownership PIP, an investor will have a newly renovated product and can increase room rates and strive to increase its room revenue by achieving its fair market share within the competitive set.
  • Recent Renovations. The current ownership group has completed the following capital improvements to the hotel within the past two years: bathroom vanities, bathroom wallpaper, carpet throughout the whole hotel, case goods, headboards, soft goods, bathroom tile, and interior/exterior paint.

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